More on carbon offsets
Everything you wanted to know, but were too afraid to ask
What is meant by a carbon footprint?
A carbon footprint is the total greenhouse gas emissions caused by an individual, event (e.g., a music festival), company (e.g., a multinational corporation), or the production of a specific product (e.g., lamb meat) within a year. The footprint is a metaphor for the impact an individual, event, company, or product has on the climate, similar to leaving footprints in wet sand or snow.
The size and depth of the footprint we leave in sand or snow depend on how large and heavy we are. The same applies to the carbon footprint. The larger the carbon footprint of a particular product, the greater the impact its production and consumption have on the climate.
Here, you can quickly calculate your carbon footprint and offset it. A more detailed and complex calculator can be found at kolefnisreiknir.is.
In short:
Your carbon footprint is the total greenhouse gas emissions you cause in one year
requirements
For a carbon credit project to be measured and certified, it must meet strict criteria and standards set by organizations such as Verra and Gold Standard. These requirements are based on the framework established by the Paris Agreement, the United Nations’ Clean Development Mechanism (CDM), and ISO 14064 for carbon offsetting.
The key criteria include ensuring that the project delivers real, measurable, and permanent results. Additionally, the project must provide additionality (demonstrating that the reductions would not have happened without the project), prevent double counting, avoid carbon leakage, and undergo independent third-party verification to ensure full transparency.
Cor Certification Requirements:
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Real impact – The project must achieve genuine emission reductions.
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Measurable results – Emission reductions must be quantifiable.
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Permanent impact – The benefits must be long-lasting.
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Additionality – The reductions would not have occurred without the project.
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Prevention of double counting – Ensuring credits are not used multiple times.
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No carbon leakage – The project must not shift emissions elsewhere.
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Independent verification – Third-party certification guarantees transparency
Surefni goes by the ICROA standard requirements, which ensures responsible participation in the carbon credit market.
Each certified carbon credit represents an impact that has already occurred, been measured, and verified. For organizations seeking carbon neutrality, only active, certified carbon credits can be used for legitimate offsetting.
What is meant by carbon offsetting?
Carbon offsetting is defined in Icelandic law. The term carbon offsetting generally refers to compensating for the emission of greenhouse gases without a legal obligation, i.e., for purposes other than fulfilling legal requirements regarding the reporting of emissions allowances.
Such carbon offsetting can be called voluntary carbon offsetting. It should be noted that there are not always clear distinctions between voluntary carbon offsetting and the purchase of emissions allowances to meet legal obligations.
The law states: Carbon offsetting is when a party arranges for another party’s actions to reduce greenhouse gas emissions and/or capture carbon from the atmosphere, using verification of such reductions or captures to offset its own emissions (either partially or entirely).
This is typically done by financing projects that a) prevent the emission of an equivalent amount of greenhouse gases, or b) remove an equivalent amount of greenhouse gases from the atmosphere. Carbon offsetting, whether through sequestration or financing emissions reductions elsewhere, must be responsible, scientifically verified, and certified.
Attention must be given to the methodology for assessing emissions and sequestration, the origin and trading of carbon credits, and the need for centralized registration of such credits. Certification of these elements is also required. The work mentioned above with the Icelandic Standards Council is an important step in this direction, alongside the work of the International Climate Registry (ICR).
In short:
Carbon offsetting involves using certified carbon credits derived from projects that prevent or reduce the emission of greenhouse gases, which are certified by an independent third party.
What are certified carbon credits?
A carbon credit (or carbon offset certificate) is a financial unit that represents proof that the emission of one ton of carbon dioxide equivalent into the atmosphere has been avoided compared to a business-as-usual scenario.
The buyer of such a unit (certificate) can use it to demonstrate that they have offset one ton of their own greenhouse gas emissions, such as from electricity consumption, air travel, car travel, etc.
Carbon credit trading primarily occurs on so-called voluntary carbon markets. Sellers on these markets can be companies, funds, and organizations that facilitate the investment in carbon offsetting projects.
It is also common for carbon credits to be purchased directly from project implementers. Buyers of carbon credits can be any parties, such as individuals, companies, organizations, public bodies, and countries.
In short:
Certified credits reflect the amount that has been offset, verified by an independent third party, registered in the carbon credit registry, and can be used to offset emissions. One carbon credit is equivalent to one ton of CO2e that has been prevented or captured in the atmosphere.
What is Súrefni doing?
Súrefni develops and sells certified carbon and plastic credits in Iceland and has focused from the start on the potential of developing and managing responsible projects.
The Súrefni team was part of the working group of carbon sequestration stakeholders in the Icelandic market, contributing to the establishment of a system for responsible carbon offsetting under the Icelandic Standards Council (ÍST WA 91:2021, which led to the technical specification ÍST TS 92:2022).
The technical specification reflects the requirements for responsible carbon offsetting in Iceland and will enable companies in Iceland to certify their emissions reductions and offset measures. Additionally, Icelandic climate projects in afforestation, wetland restoration, or others will be able to get certification for the carbon credits they generate.
The goal of this work is to ensure traceability, transparency, and reliability in carbon offsetting, sequestration, and emissions reductions, while ensuring alignment between Icelandic and international standards and preventing greenwashing.
In short:
Súrefni is a carbon credit broker in Iceland for companies. Many new projects are on the horizon - more details about our projects can be found here.
what are plastic credits?
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One plastic credit corresponds to one ton of plastic that has been collected and prevented from dispersing into nature – or one ton of plastic that has been responsibly recycled and subsequently reused.
We certify plastic credits based on the Verra standard called the Plastic Waste Reduction Standard
Examples of plastic projects that Súrefni has been working on can be seen here.